Interest rates on short-term US Treasury bills increased in auctions held on Monday with the three- month bill hitting the highest level since September 2001.

The US Treasury Department auctioned 17 billion dollars in three-month bills at a discount rate of 2.895 percent, up from 2. 800 percent last week. The rate was the highest since September 10, 2001, when they averaged 3.180 percent.

Another 15 billion dollars in six-month bills were sold at a discount rate of 3.110 percent, up from 3.070 percent last week. The rate was the highest since 3.120 percent two weeks ago.

In a separate report, the US Federal Reserve reported on Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, declined to 3.32 percent last week from 3.35 percent the previous week.

Source: Xinhua